The Securities and Exchange Commission (SEC) has already begun discussing core technical details with spot ETF applicants, and markets have priced in an approval in January. Bitcoin has rallied with phenomenal strength and caused the wider ecosystem to explode.
BTC Ordinal meme token ORDI has pumped 600% in a month, and other presales such as Galaxy Fox (GFOX) have similarly made incredible upside movements, already closing in on $600,000.
ORDI Moves 600% In a Month
Bitcoin has always been a classic response to the question of which crypto to buy today for long-term exposure to the digital asset space. But seriously long-term investors have always wondered what will happen to the network when the issuance of new BTC stops. The Bitcoin network must start earning more from fees to pay miners, which is where Ordinals enter the fray.
Ordinals allows users to create inscriptions on satoshis and embed data into transactions on the Bitcoin network. They’re Bitcoin’s equivalent of non-fungible tokens (NFTs), providing a new functionality to the network. Not to mention a new area for speculation for a market section holding significant wealth with nothing to do except send and receive.
The leading protocol’s native token ORDI has rallied over 600% in the last month and moved violently for two reasons. A recent listing on Binance opened up available liquidity. This increased market visibility and access- two things any token needs to rally. Secondly, there is the perception that holding ORDI is a proxy for the growth of the Ordinals market.
Galaxy Fox (GFOX) Closes In On $600,000
This play-to-earn token rapidly closes in on $600,000, and its presale has a highly unique momentum only comparable to the 2017 mania.
The big draws to the play-to-earn (P2E) ecosystem are staking rewards, highly deflationary tokenomics, meme coin virality, an NFT marketplace, and even real-world merchandise. Building way beyond the classic P2E model, Galaxy Fox introduces a new standard for gaming protocols.
At the center of this cosmic ecosystem is its Web3 runner game, which rewards the top 20% of players each season. But what makes Galaxy Fox so interesting is the ability to earn residual income without being a top-ranked player.
Stargate, the protocol’s rewards hub, accrues 2% of all buy and sell taxes and distributes these to stakers. Notably, taxation funding staking rewards in place of emissions means no theoretical cap on payouts to stakers. And the growth of payouts will perfectly mirror the expansion of the broader ecosystem.
The protocol’s burn ensures a decreasing total supply of GFOX on the open market.
Closing Thoughts: Small Caps Ready to Shine
The incredible price action of ORDI and GFOX signals that markets are entering an altcoin season. Large capital inflows from institutional investors wash into majors like BTC and ETH and then naturally flow down into smaller caps.
Learn more about GFOX here: Galaxy Fox Presale | Community
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